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CSC signed pact with Paytm Payments Bank for sale of FASTags

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On January 04, 2020, CSC e-Governance services India ltd has signed a Memorandum of Understanding (MoU) with Paytm Payments Bank ltd (PPBL) for selling FASTags. Through this MoU, FASTags will be sold through the last mile network of 3.6 lakh CSCs (Common Service Centres). This will help in enhancing govt’s vision of cashless and smooth transit at toll plazas in the country. CSC will integrate its platform with PPBL to carry out the transactions. Village level entrepreneurs will be trained on conducting online sales which are cashless and paperless.Common Service Centres providing FASTags:

  • CSCs have been providing FASTag services since 2 years. It initially partnered with Equitas bank in September 2017 and later with the State Bank of India (SBI) and HDFC (Housing Development Finance Corporation) bank.
  • Since March 2019, CSCs tied up with National Highways Authority of India (NHAI) also for selling FASTags.
  • So far, 2.84 lakh FASTags have been sold by CSCs in India with Maharashtra, Punjab, Tamil Nadu and several other states topping with maximum sales.
  • CSCs have also been providing FASTag ‘top-up’ through wallet recharge to vehicle owners and transporters. So far, more than Rs 74 crore worth top-up for FASTags has been done by VLEs across the country.

FASTags:

  • FASTags have been mandatory in the country at toll gates on national highways (NH). It allows toll payments directly from prepaid or savings account linked to it.
  • The FASTags work on Radio Frequency Identification (RFID) technology.
  • As of December 31, 2019, over 1.15 crore FASTags have been issued.

About CSC e-governance service India ltd:
Fact- It is a Special Purpose Vehicle (CSC SPV) by the Ministry of Electronics and Information Technology (MeitY) under the incorporation of Companies Act 1956. Its purpose is to monitor implementation of CSCs.
Chief Executive Officer (CEO)- Dinesh Tyagi.

About Paytm Payments Bank Ltd (PPBL):
Fact- it is India’s only mobile first bank with zero balance digital transaction charge accounts.
Chairman- Vijay Shekar Sharma.
Chief Executive Officer (CEO) & Managing Director (MD)- Satish Kumar Gupta.